Influence of management team characteristics on risk decision making: evidence from the restaurant industry

Abstract:

This article aims to verify the influence of top management team characteristics (team size, age, sex and length of time in the job) on risk decision making. For this study, information was searched on 2144 European companies in the restaurant industry, using the AMADEUS database. Data were collected in 2014, 2015 and 2016 and analyzed statistically using the Least Square Method. The results show that managers who are older and have been in the position for longer are more averse to risk decision making. The size of the management team and the percentage of females on the team did not decrease the risk decision making behavior. The study provides new insights into the relationship between the characteristics of the restaurant business management team and their risk decisions.

Keywords:
Upper Echelon Theory; Characteristics; Risk; Restaurants